Dollar Rises After Fed Chief's Comments

Yellen Says Fed Watching Closely Economic Data

By

James Ramage

Updated July 15, 2014 3:52 p.m. ET

The dollar gained on Tuesday after Federal Reserve Chairwoman Janet Yellen said interest rates should remain low for the foreseeable future, but could rise sooner than expected if economic data continue to improve.

The dollar rose 0.2% versus the yen to ¥101.70, rebounding from its initial move lower in response to Yellen's testimony.